The Issuing Institute of Overseas Departments (IEDOM) has just published provisional figures relating to banking activity for the first 9 months of 2023 for the territory of Saint-Martin.
The distribution of credits, whose outstanding amount now exceeds €604,2 million, remains dynamic and continues to grow in Saint-Martin, both for businesses and households, with +19% over one year and +7% over three months . Households collect €187,2 million (+12% over one year) including +11% in home loans and +16% in consumer loans. Two-thirds of companies are the main beneficiaries of loans with €392,4 million (+23% over one year) which are mainly made up of investment loans (+41%) and housing/real estate (+14%). For deposits, financial assets are almost stable in Saint-Martin with 544,3 million euros (+0,3% over one year and -1,6% over three months) but their level remains lower than that of loans . Collection from households is up with €234,7M and +4% over one year, but down slightly for businesses, the amount of which is set at €278,0M (-0,3% over one year). Financial assets are mainly held by companies mainly in the form of demand deposits but with a growing share of short-term liquid investments which have become more attractive (+10 points over one year). On the banking side and the distribution of state-guaranteed loans (PGE) in Saint-Martin, the banks “played the game well” according to IEDOM. The PGE system benefited 356 Saint-Martin entities for a total amount of 39 million euros, or 8% of all PGEs granted in Guadeloupe and the Northern Islands. The retail sector is the main beneficiary of PGE, in number and amount (respectively 27% and 38%), followed by hotels/restaurants (18%). At the end of June 2023, 97% entered the repayment phase, €27,2M (70%) are in outstanding status, 4% of the PGE have been fully reimbursed and 85% of the PGE reimbursed over 6 years (59% national). _VX
Source: Faxinfo https://faxinfo.fr/en/economie-activite-bancaire-stable-a-saint-martin/
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